Pinecroft Realty obtained financing for an 11-asset, medical outpatient portfolio concentrated in the Dallas and Houston MSAs. The portfolio totaled 258,000 square feet and was approximately 81% leased at the time of closing.
Zack Holderman and Jesse Greshin led the CBRE U.S. Healthcare Capital Markets’ Debt & Structured Finance team, which worked on the deal.
The multi-tenant portfolio comprises 37 tenants, including a diverse range of healthcare companies and specialties, such as St. Luke’s Health System and Texas Children’s Hospital, as well as several established and well-known regional physician groups and local practices. The portfolio represents strong, in-place cash flows with additional upside achievable through lease-up and mark-to-market opportunities.
Houston is home to the Texas Medical Center (TMC) (photo), the largest medical complex in the world, spanning over 1,300 acres and comprising 60 member institutions, which attract new investment and millions of patients annually.
The post Pinecroft Inks Refi for 11-Asset Texas Healthcare Portfolio appeared first on Connect CRE.
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